dmostcheerful:
This woman is a thïef, she might be right but the was she loves expenses, it shows it's the only way she can embezzle funds, example there is no exact calculation to know how much subsidy is paid cause know one really knows the quality of fuel Nigerians use daily.
He case will be worst than Diezani

So, let them remove the subsidy and let marketers control the price, so that she won't have money to steal or chop.

Barrylord4040:
No biafra will rule naija...Even my dog knows this Lollll

Vote Bola Ahmed Tinubu

so the reason I should vote tinubu is because you are a racist

Henrygetpaid:
Minister of petroleum de cashout...

If you want her to stop cashing out...then let them remove subsidy...

Plus your comment shows you don't get how subsidy runs, with all due respect.

Basically, in 2021, oil was around 60-70 dollars. It cost N261 (June) to bring in one liter...which we sold at N165...subsidy of about nearly N100.

By March 2022, it was costing N300 to bring in one liter, sold at N165...subsidy of N140... Oil rising close to 100 dolalrs.

Now oil is above 120 dollars, and it costs above N400 to bring in one liter of fuel...

Plus cost of diesel...which is used to transport the fuel to the station...has risen to above N800 per liter...from below N400 last year.

Hence subsidy costs rise.....

The minister of finance wants subsidy gone. It is Buhari that overulled her...

With d voice of Buhari in 2014 " subsidy is fake"

I am surprised with the number of people supporting subsidy recently.

Where were you guys all along?

Go and sit down Abeg! Subsidy that has been removed long ago from diesel how far? Mtchewwwwwwwwwwww

Subsidywise20:
And that is why subsidy should go

The more the cost of crude oil rises, the more the difference between the production cost, and the government set price....the more spent on subsidy.

But everytime subsidy removal has been suggested...since the 1980's , Nigerians have always said no. And even those that understand, most still say NO.

It is costing us too much money, falied refineries, and so on to keep the subsidy running. It is time it went. It should have gone in 2012 , even 1993, but no....we all want to buy fuel at N40 per liter.

underpinna:
Sai Sai sai

Who do Nigeria this thing na

The cost of refining and transporting petrol has risen because

1.High crude oil prices

2.High cost of diesel...which is used to transport the fuel...and which is no longer subsidised (since 2013).

Both the above are caused by high crude oil prices...due to the war in Ukraine.

That is why subsidy costs have risen. And that is why subsidy has to go...but you guys want it to stay because you don't want to pay N400 and higher for fuel.

NLElder:
Go and sit down Abeg! Subsidy that has been removed long ago from diesel how far? Mtchewwwwwwwwwwww

The diesel subsidy removal is why we are not paying N8-9 trillion naira for subsidy this year...if we were still subsidising diesel in addition to fuel.

The resulting high cost of diesel is why we are paying more to subsidsie fuel

Finally high cost of oil means higher cost of refining fuel..which raises subsidy costs drastically.

But since you don't want it to go...because you want cheap fuel...

You go and sit down.

No reasonable person will see what is happening with diesel that has been deregulated long ago and support that of fuel. Except that person is foolish. It's not about telling us trillion this trillion that all the time. Make refineries to work and stop importations 1st then we know government is ready. Stop telling us what is spent on subsidy all the time to demonize it. Subsidy should stay till you govt do the right things. Enough of this suffering. If u guys are tired and fed up, I am!!!Rubbish

wpadmin:
I am surprised with the number of people supporting subsidy recently.

Where were you guys all along?

Subsidywise20:


The cost of refining and transporting petrol has risen because

1.High crude oil prices

2.High cost of diesel...which is used to transport the fuel...and which is no longer subsidised (since 2013).

Both the above are caused by high crude oil prices...due to the war in Ukraine.

That is why subsidy costs have risen. And that is why subsidy has to go...but you guys want it to stay because you don't want to pay N400 and higher for fuel.

You were one of those shouting that Jonathan shouldn't remove subsidy. Now you want it gone. Continue.

wpadmin:
I am surprised with the number of people supporting subsidy recently.

Where were you guys all along?

Without subsidy, we would have been paying somewhere around N400 per liter of fuel or more.

Most Nigerians don't support subsidy removal. Has always been like that from time inmmemorial.

In 1993, IBB tried to remove subsidy. Nigerians ferociously said no. And that is ARMY government.

underpinna:


You were one of those shouting that Jonathan shouldn't remove subsidy. Now you want it gone. Continue.

Actually it is GEJ, Ngozi Okonjo Iweala and Sanusi Lamido sanusi that woke me up to how subsidy was damaging the economy in 2011/12.Before then I was pro subsidy, even joining in criticising one of Obasanjo's ministers who called it unsustainable in 2006, and always calling it a much needed thing.

But then I woke up in 2012. Since then....

Sorry, but I was not among the Lagos crowd calling for subsidy removal. Go and meet yer average APC supporter, and even most people on your side.

And people still want to Vote in old swines as their leaders people who have seen the problem and chose to look the other way . I tire for Una sha

NLElder:
No reasonable person will see what is happening with diesel that has been deregulated long ago and support that of fuel. Except that person is foolish. It's not about telling us trillion this trillion that all the time. Make refineries to work and stop importations 1st then we know government is ready. Stop telling us what is spent on subsidy all the time to demonize it. Subsidy should stay till you govt do the right things. Enough of this suffering. If u guys are tired and fed up, I am!!!Rubbish

Only way we can make refineries work...is by removing subsidy on fuel

That way, government keeps subsidy money, while the sector makes a profit that includes the amount that would have been spent on subsidy plus more extra profit...meaning that investment in refineries becomes possible and sustainable.(After all since free government money is not coming in once subsidy is gone, refineries have to work or no money comes in)

Subsidy is what led to the refineries breaking down. The petroleum industry was operating at a loss as a result of subsidy which did not cover the losses adequately, and because of the free money pouring in due to subsidy, incentive to keep refineries running was lost...since whether they worked or not, free subsidy money would come in...by 2010, we were at 10% of capacity.


As seen in Venezuela...once had a 900000 BPD refinery....now down to 100000 bpd because they sell fuel at N40 per liter (equivalent) over there. No profit, it does not work.

If they remove subsidy and they sell fuel at #500 per litre without corresponding per capita income improvement crime rate will shoot up, suicide will increase, hunger will be worse, people will leave Nigeria and government will struggle to maintain law and order. They just have to sell the refineries first before that.

handie:
All these trillions being used to service petrol subsidy yearly, why not use them to fix the refineries and then totally deregulate the petroleum sector? How long shall government take decisions based on emotions rather than economic logic? Same with University education. Why not allow university autonomy and allow university raise their own revenue and spend it on their schools with only the FG taking supervisory role to discourage corruption? Yeah! High fees and all that will come in but at least with a transparent scholarship scheme..... Maybe say any student who scored 250 or 300 in Jamb qualifies for such scholarship will ensure those who are brilliant but would hitherto be unable to get good quality education qualifies for such. But nah! We'd rather have Endless ASUU strikes and substandard educational system so as to appeal to majority. I'm not an elite nor am I elitist but a serious government needs to take some hard decisions for the benefit of the nation. This petrol subsidy and several others don't help the nation.

Because at the end of the day, Nigerians want things cheap. (That is why we price things at the market, forgetting that the trader spent money to bring it from the rural areas to sell at the market).

RaptObserver:
If they remove subsidy and they sell fuel at #500 per litre without corresponding per capita income improvement crime rate will shoot up, suicide will increase, hunger will be worse, people will leave Nigeria and government will struggle to maintain law and order. They just have to sell the refineries first before that.

And if they keep the subsidy, the budget deficit will keep rising, meaning it would become more and more difficult for government to pay things like salaries and so on...as we spend more and more on subsidy, and the same old crime rate and hunger will increase.And to cover that deficit..we may have to take more and more loans.

Remove subsidy, and yes, there would be hardship...but there would also be more investment in the petroleum sector...plus government would be able to have some extra money saved from the subsidy removal to (ideally) mitigate the intial suffering...before the benefits of the investment eventually kick in.

Subsidywise20:


And if they keep the subsidy, the budget deficit will keep rising, meaning it would become more and more difficult for government to pay things like salaries and so on...as we spend more and more on subsidy, and the same old crime rate and hunger will increase.And to cover that deficit..we may have to take more and more loans.

Remove subsidy, and yes, there would be hardship...but there would also be more investment in the petroleum sector...plus government would be able to have some extra money saved from the subsidy removal to (ideally) mitigate the intial suffering...before the benefits of the investment eventually kick in.

All the reinvestment programs government attempted with the money generated from partial subsidy removal over the years have not been successful. That is why most Nigerians feel government should continue subsidy for now to keep inflation at a reasonable level since they are not sincere about subsidy removal interventions. The only benefit most Nigerians get from government is the cheap fuel prices.

RaptObserver:


All the reinvestment programs government attempted with the money generated from partial subsidy removal over the years have not been successful. That is why most Nigerians feel government should continue subsidy for now to keep inflation at a reasonable level since they are not sincere about subsidy removal interventions. The only benefit most Nigerians get from government is the cheap fuel prices.

And as you can see the cheap fuel prices are costing us dear. (Because diesel is not subsidised..that is why it is 'only' 6.7 tr naira. If diesel was subsidised, it would have been as high as 9 trillion)

Plus, all the past subsidy removals were partial. That's why they do not generate enough cash. If you really want enough cash...total removal of subsidy plus the potential for more income to come via resulting increased investment.

Thought it was magic, since the subsidy on diesel has gone why no competitive prices among the diesel marketers as u people always preach that subsidy brings? Until u answer all that, I still say u should go and sit down.

Subsidywise20:


The diesel subsidy removal is why we are not paying N8-9 trillion naira for subsidy this year...if we were still subsidising diesel in addition to fuel.

The resulting high cost of diesel is why we are paying more to subsidsie fuel

Finally high cost of oil means higher cost of refining fuel..which raises subsidy costs drastically.

But since you don't want it to go...because you want cheap fuel...

You go and sit down.

Stop this rubbish use a quarter of that amount to fix the Refineries. You thieves.

Subsidy is a ruling government strategy for making money.
This is money they will use to settle themselves come May2023.

God go punish you

BeeBeeOoh:


https://thenationonlineng.net/breaking-fg-to-spend-n6-72trn-on-subsidy-in-2023/

They will increase fuel price, yet subsidy will increase
Can't we all see this is a charade?

BeeBeeOoh:


https://thenationonlineng.net/breaking-fg-to-spend-n6-72trn-on-subsidy-in-2023/

They will increase fuel price, yet subsidy will increase
Can't we all see this is a charade?
Just 1 trillion naira from that 6 trillion will repair portharcourt refinery, and save us money to import, but these demonic leaders have said it's over there dead bodies they will do that

Barrylord4040:
No biafra will rule naija...Even my dog knows this Lollll

Vote Bola Ahmed Tinubu

Wait till 2031, your best shot was Osibanjo, both emilokan impeded him with his owo bag, we will rather vote for a atiku than the cassava and agbado crooner.. meanwhile obedient is better than sacrifice(sacrifice) and listening better than offering the fat of rams(atiku)
Peter better than your desperate Judas.

Moh247:


Subsidy would die naturally when BUA group and Dangote group start refining more crude than Nigerians can consume daily

What's about our six refineries?
No body is talking about it

NLElder:
Thought it was magic, since the subsidy on diesel has gone why no competitive prices among the diesel marketers as u people always preach that subsidy brings? Until u answer all that, I still say u should go and sit down.

Like you don't understand how a subsidy works, be that.

Nice talking with thee, good am. You want to pay N40 for fuel. Well, wishes cannot be horses.